ALEXANDRIA, Va. (AP) — The Latest on Walmart’s multimillion settlement with federal authorities investigating the allegations of the company’s corrupt overseas practices (all times local):
The Securities and Exchange Commission says it has reached a $144 million settlement with Walmart for failing to stem corruption in its overseas units in Brazil, China, India, and Mexico.
That settlement is in addition to a $138 million criminal payment finalized Thursday in federal court in Alexandria for paying more than $500,000 to a Brazilian intermediary nicknamed the “sorceress” for her ability to expedite construction permits.
Walmart said Thursday the deals constitute a global settlement of all federal investigations into violations of the Foreign Corrupt Practices Act. The company says it now has strong anti-corruption programs in place. Walmart’s overseas practices have been under investigation since at least 2012.
Walmart did not immediately respond to a call and emails seeking comment.
According to the Securities and Exchange Commission, companies including Halliburton, Anheuser-Busch InBev, JPMorgan and Panasonic Corp. have all reached multimillion settlements under the Foreign Corrupt Practices Act since 2016.
Walmart reported $3.84 billion in profit in its most recent quarterly earnings.